2.3. ERMUSR 06-11-2013 - Laserfiche WebLink

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PROFIT AND LOSS NARRATIVE April 2013 Electric P&L April Operating Revenue of$2,082,284 is behind budgeted numbers by 2.5% and the prior year .5%, impacted slightly by the weather. April's weather in 2013 was unseasonably cool, averaging 45°F, compared to 57°F the year before. The better than average temperatures from a year ago, compared to the lower than average temperatures of this year really exaggerate the differences. Other Operating Revenue is behind the budgeted numbers 4.5%and the prior year numbers 8%. Interest income is down as well as miscellaneous revenue. The miscellaneous revenue from 2012 included a nonrecurring stock distribution of approximately $11,000 from Principal. Other revenue items are fairly consistent with the prior year. Purchased Power of$1,417,054 is increased over the prior year 3%but under budgeted numbers by 2.4%. Maintenance Expense is increased over budget and the prior year with the drivers being vehicle repairs and transformer maintenance, and Services to the City is increased. Other expenses are in line or down from the prior year and budget. Total expenses of$2,055,331 are under the budgeted numbers by 4.5% and slightly ahead of the prior year by 2.8%. For April, the Electric Department has a Net Profit of$190,495, which is ahead of budget by $48,646, but behind the prior year by $81,596. Water P&L Water Operating Revenues are ahead of last year by 10% at $107,467, and also ahead of budget by 19%. This increased usage is from the commercial segment(not necessarily dependent on weather) showing an increase over the prior year in spite of the cooler weather. Other Revenue of$24,272 is up from budget, 52%, and down from the prior year 22%, due to Connection Fees. Expenses are in line with budget, and yet over the prior year by 8%. Pumping Expense is increased with chemical and electricity items being increased, and a nonrecurring expense for the upgrade of the Well #7 meter. For April,the Water Department has a net loss (which is expected this time of year) of ($55,235), which is 60% ahead of budget and in line with last year. Reminder: the graphs are presented differently. There was some confusion in that it was interpreted that we were projecting numbers for the upcoming months of the year,when actually presenting a rolling twelve month period. In future presentations,the prior year will be presented in its entirety and the current year will only be presented for the months that have occurred.